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CPCU 530 Exam Questions with Correct Answers Which one of the following best describes equity courts in the United States federal judicial system? - Answer-Modern equity courts in the U.S. federal system are unified with courts of law. Judges, not juries, can use the broad powers of equity to create fair solutions beyond what traditional legal remedies can offer. Physician Betty administered medical services to stroke victim Karl who was unconscious. She provided medication and direction ...

CPCU 530 Practice Exam Questions and Answers common stock - Answer-An ownership interest in a corp that gives stockholders certain rights and privileges, such as the right to vote on important matters and to receive dividends preferred stock - Answer-Stock that is generally nonvoting but that has priority over common stock, usually regarding dividends and capital distribution if the corporation ends its existence Par value - Answer-An arbitrary dollar value that an organization assigns t...

CPCU 530 2023 Exam Questions and Answers All Correct Doctrine of stare decisis - Answer-The principle that lower courts must follow precedents set by higher courts. Equity - Answer-Fairness, or a body of principles constituting what is fair and right. Criminal law - Answer-The branch of the law that imposes penalties for wrongs against society. Civil Law - Answer-A classification of law that applies to legal matters not governed by criminal law and that protect rights and provides r...

CPCU 530 Applying Legal Concepts to Insurance – latest update

CPCU 530 II Exam Questions with Correct Answers What is an insurance contract? - Answer-A contract where the policyholder pays premiums and the insurer promises to cover losses. What are the five main parts of a common insurance contract? - Answer-Declarations page, definitions section, insuring agreement, exclusions, and conditions. What information is included in the declarations page of an insurance contract? - Answer-Address of insured property, deductibles, description of insured ...

CPCU 530 Practice Test Questions with Correct Answers Which one of the following is the primary way that formal mediation differs from a pretrial settlement conference? - Answer-Formal mediation requires the parties to submit their dispute to an agreed-upon outside mediator, but the parties do not necessarily select who will conduct a pretrial settlement conference. (Incorrect. Though mediators, formal and informal, are often judges, formal mediation involves seeking the assistance of a neut...

CPCU 530 Study Questions and answers

CPCU 530 Practice Exam Questions and Answers common stock - Answer-An ownership interest in a corp that gives stockholders certain rights and privileges, such as the right to vote on important matters and to receive dividends preferred stock - Answer-Stock that is generally nonvoting but that has priority over common stock, usually regarding dividends and capital distribution if the corporation ends its existence Par value - Answer-An arbitrary dollar value that an organization assigns...